Morrison & Foerster has settled a $35 million legal malpractice lawsuit brought by a unit of the Australian investment bank Macquarie that claimed the law firm failed to spot red flags in its work on a Chinese coal company’s stock offering, according to court papers.

The apparent settlement, in a four-year-old high-profile case against the Am Law 100 firm, comes less than two years after the malpractice suit was revived by a New York appellate court.

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